NYSE$KAI

Kadant Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Kadant's first quarter results reflected employee dedication leading to EPS beat and solid revenue performance.

Kadant reported a decrease in revenue by 7% to $159 million, but GAAP diluted EPS increased by 14% to $1.09. The company's bookings decreased by 4% to $176 million. Net income increased 15% to $13 million. Adjusted EBITDA decreased 9% to $27 million.

  • Bookings decreased 4% to $176 million.
  • Revenue decreased 7% to $159 million and was within our guidance range.
  • GAAP diluted EPS increased 14% to $1.09 exceeding the high end of our guidance.
  • Adjusted EBITDA decreased 9% to $27 million and represented 17.1% of revenue.

Headline financials

Total Revenue

$159M

Previous: $171M-7.1%
EPS (adj)

$1.09

Previous: $1.24-12.1%
Bookings

$176M

Previous: $184M-4.4%
Gross Margin

42.9%

Previous: 41.2%+4.1%
Adjusted EBITDA

$27.3M

No prior period
Capital Expenditures

-$2.69M

Previous: -$2.17M-23.9%
Free Cash Flow

$9.85M

Previous: $8.73M+12.7%
Net Income

$12.5M

Previous: $10.9M+15.0%
Operating Income

$19.7M

Previous: $18.6M+5.8%
Gross Profit

$68.3M

Previous: $70.5M-3.1%
Cash & Equivalents

$62.1M

Previous: $56.5M+9.9%
Total Assets

$909M

Previous: $958M-5.1%
Stock-Based Comp

$1.64M

Previous: $1.55M+5.5%

Revenue & EPS history

Kadant · Revenue · Quarterly

$159M

Q1 2020-7.1%vs Q1 2019
Beat estimate in 16 of 16 quarters(100%)
ActualEstimate

Forward guidance

Given the current uncertainty and our inability to accurately forecast the timing of orders, we will not be providing guidance for the second quarter of 2020 and are withdrawing our guidance for full year 2020. Despite this uncertainty, the long-term fundamentals of our markets remain strong.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+1.3%

Avg return

Earnings day

+1.4%

Avg return

5 days after

+2.3%

Avg return

30 days after

56%

35 / 63 earnings

Positive

+13.1%

Q2 2017

Best reaction

-14.4%

Q4 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.3%+15.6%+1.2%
Q4 2025+2.7%+4.8%-7.5%
Q3 2025+0.8%-7.3%-6.8%
Q1 2025-6.5%-7.1%-0.5%
Q4 2024-0.7%+11.6%-1.2%
Q3 2024+4.2%+6.6%+25.2%
Q2 2024-0.6%-12.4%-9.4%
Q1 2024-8.9%-5.1%-4.2%
Q4 2023+12.0%+11.5%+4.5%
Q3 2023+6.8%+10.9%+18.3%
Q2 2023-6.7%-4.8%-1.4%
Q1 2023+3.4%+4.7%+2.9%
Q4 2022+4.7%+8.1%-2.5%
Q3 2022-5.2%-1.9%+8.9%
Q2 2022-3.0%-5.0%-12.8%
Q1 2022+5.9%-1.2%+1.5%
Q4 2021-4.6%-6.3%-3.6%
Q3 2021+2.6%+5.2%+6.7%
Q2 2021+9.2%+12.8%+20.3%
Q1 2021-0.7%+3.7%-5.4%
Q3 2020-4.5%-1.9%+12.1%
Q2 2020-6.1%-7.3%-1.2%
Q1 2020+0.4%-2.3%+15.7%
Q4 2019-14.4%-10.4%-33.7%
Q3 2019+1.4%+5.3%+11.6%
Q2 2019+8.3%-1.9%-5.0%
Q1 2019-0.9%-7.0%-16.1%
Q4 2018+2.6%+1.6%+1.8%
Q3 2018+5.9%+4.7%-1.8%
Q2 2018-0.2%-5.4%+4.8%
Q1 2018+0.7%-0.6%+4.5%
Q4 2017-0.4%-0.6%+4.8%
Q3 2017+10.2%+3.2%-0.0%
Q2 2017+13.1%+11.1%+11.3%
Q1 2017+13.0%+18.8%+26.2%
Q4 2016+0.0%-0.3%-6.7%
Q3 2016+3.1%+1.6%+22.0%
Q2 2016+3.9%-1.0%+1.7%
Q1 2016+3.0%
Q4 2015-2.9%
Q3 2015-3.3%
Q2 2015+5.0%
Q1 2015-6.9%
Q4 2014+1.0%
Q3 2014+7.1%
Q2 2014+1.9%
Q1 2014-2.3%
Q4 2013+4.4%
Q3 2013+3.4%
Q2 2013-3.1%
Q1 2013+6.4%
Q4 2012-9.0%
Q3 2012+10.3%
Q2 2012-8.2%
Q1 2012+1.6%
Q4 2011-0.8%
Q4 2010-0.8%
Q3 2011-4.8%
Q2 2011+11.6%
Q1 2011+11.6%
Q3 2010+0.6%
Q2 2010-0.7%
Q1 2010+5.2%

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